Factual Data: Factual Data: 63 apartments total, 2 buildings within close proximity to each other in the 14th Street corridor, developed by Triangle Development Associates II, LLC, including MAG, Peak Companies, The Maven Group and the Jair Lynch Companies as co-project managers. Located at 1348 Euclid Street, NW and 1435 Chapin Street, NW, Washington, DC.
- Awarded project after public competition by quasi-public D.C. agency (NCRC)
- Acquisition/Construction financing
- Management of design process for new construction in dense, urban neighborhood
- Extensive construction and design related issues required careful management
- Major flood due to pipe leak required 9 month delay – insurance claim management, construction cleanup and rehab oversight, negotiation with existing buyers.
- Due to changes in market conditions and delay due to flood (see above), careful management of existing buyers and re-marketing of many units.
- Management of punchlist issues including negotiation of settlement agreements with resident associations.
- Construction affiliate performed analyses of building punchlist and warranty issues, including reviews of third party reports. Performed corrective action through coordination with subcontractors.